Summary

The Forensic Fraud Lead will collaborate with the in-country CEO and Group Forensic to ensure that the Management and Board has a clear understanding of the strategic direction of the function. Manages the Forensic department through preventative, detective, investigative methodologies, and resolution procedures in order to mitigate risk to the company.

Responsibilities

STRATEGIC INITIATIVES

Implement in-country Fraud strategy

• Understand Group strategy and direction of Fraud within the company.
• Implement preventive, detective, and investigative methodologies through the use of a strategic roadmap for the following types of Fraud:
  • Application Fraud (Product)
  • Employee and Agent Fraud
  • Service Provider and Procurement Fraud
• Stay up to date of new developments in the assurance/ forensic environments and make recommendations on necessary changes.
• Prioritize key matters, ensure hands on all aspects of Forensic, in particular: ownership of every aspect within the Forensic department.
• Implement Forensic Framework and structure to detect Fraud around the loan book.

Implement AML Compliance

• Set up systems and process to detect money laundering and terrorism financing.
• Train team and staff members on AML related issues according the business structure and products.
• Monitor customer transactions and highlight any suspicious transactions to the Money Laundering Reporting Officer.
• Review and update AML policies and procedures.
• Conduct AML risk assessments on the business.

 

OPERATIONAL

Oversee Analytics and Discovery

• Ensure that methodologies are up to standard.
• Remain current with new trends in Fraud and shares insight/ research/ knowledge weekly.
• Identify and communicate any significant risks not yet identified through the risk management process.

Applies a proactive preventative approach to Fraud

• Strive to reduce the risk of fraud and misconduct from occurring.
• In conjunction with Group, develop country-specific Anti-fraud policies and procedures.
• Implement policies and procedures through all levels of the operations ensuring effective enforcement.
• Set up and maintain an Anti-Fraud/ Whistle-Blower/ Ethics channel of communication.
• Implement a Fraud Rewards Programme.
• Launch Anti-Fraud Training and Awareness Campaigns.
• Maintain up-to-date knowledge in data analytics.
• Ensure optimal due diligence (Pre-screening and Vetting) is conducted.

Manages detective approach to Fraud

• Oversee Risk Assessments and Forensic Audits.
• Manage the investigation process ensuring that quality, efficiency, completeness, and accuracy of investigations are present.
• Manage the workload of Forensics by prioritising investigations and resource balancing in order to timeously execute and to contribute to mitigate the potential risks to the business.
• Ensure that investigations are executed in a compliant manner by adhering to the requirements of applicable laws, regulations (associated within a forensic environment) and business policies and processes.
• Gather manual and/or electronic information required to assist in the financial quantifications of forensic investigations.
• Provide assistance and support to the Forensic Investigators in conducting interviews with relevant individuals on an ad-hoc basis, where necessary.
• Analyse information gathered, assess internal controls and weaknesses, and formulate conclusions and recommendations in terms of allegations. This would include recommendations as to how to mitigate further potential risks.
• Review and approve quantification methodologies pertaining to forensic investigations. This would include the quantification of the financial loss or prejudice from economic crime to the Group Company.
• Engage with forensic experts to assist in evidence gathering and/or to furnishing of professional opinions.
• Familiarize the various dispute resolution mechanisms (e.g., trial, civil hearing, mediation, arbitration, regulatory/competition tribunals).
• Ensure efficiency, quality, completeness and accuracy of investigations and audits performed.

Ensures response approach is efficient

• Provide adequate recommendations based on investigation findings.
• Initiate cases and external litigation matters arising from investigations.
• Provide support/lead evidence during post-investigative corrective actions (e.g., disciplinary hearings, civil and criminal proceedings), including additional work required by 3rd parties.
• Assist in formulating civil recovery actions based on quantifications, where appropriate.

Ensures quality throughout all activities

• Review forensic investigative reports prior to submission to relevant stakeholders and ensures that the reporting protocols are observed.
• Review the contents of the Case Docket pertaining to investigations completed.
• Provide feedback on the quality of the review.

Reporting

• Periodically compile, review, and submit all relevant reports to the Audit Committee, as appropriate.
• Prepare reports on quarterly basis for the Company's Audit Committee on significant governance issues identified and progress against open forensic cases.
• Ensure that reports are of the correct standard, are accurate and complete and are written in a timely manner.

Financial

• Maintain minimal operational costs. Strive to remain within the allocated budget.
• Strive to ensure that fraud write offs are reduced and contained within a specified percentage of turnover and below. Ensure all options have been considered to mitigate write off.
• Strive to maximise fraud savings.

 

PEOPLE MANAGEMENT

Manage Team

• Create a high-performance team that delivers a high calibre services, which meet defined targets, to the company and enhances the individual’s careers within the group.
• Ensure all team members have role descriptions in place for their respective roles.
• Ensure all team members have signed performance contracts in place.
• Ensure all team members have individual development plans in place.
• Ensure succession planning is in place with three potential successors identified for all line and key specialist roles.

Customers

• Ensure customers are treated within the expectations as defined by policies, procedures and within service level agreements.
• Ensure expectations are defined, set monitored to ensure turnaround times are maintained.

 

STAKEHOLDER ENGAGEMENT

Engages in the following forums:

• Liaise with clients, in-house counsel, external legal teams, witnesses, other experts, police, criminal prosecutors, and regulatory enforcers.
• Attend, monitor, evaluate, and contribute to discussions at relevant Business Executive Committees where assurance about the area of specialisation is being discussed.
• Discuss all significant findings with senior management.
• Share knowledge, networks and collaborates with internal audit on findings.
• Contribute to advice provided on Corporate Governance frameworks.
• Discuss and obtain input/ agreement/ approval on annual forensics plan.
• Maintain a network of internal and external professional contact.

Education and Qualifications

• Completion of a bachelor’s degree in Accounting, Economics, Finance, Risk Management, Law, Law Enforcement, or related field.
• Certified Fraud Examiner (CFE) (will be an added advantage).

Requirements

• At least 3 years of work experience in conducting investigations related to Fraud, Forensics Audit/ Investigation, Risk management or related filed.
• Financial Services sector experience will be an added advantage.
• Willingness to travel across regions within Tanzania.

Characteristics

KNOWLEDGE AND SKILLS:

• Strong interpersonal and communication skills.
• Excellent written and oral communication skills.
• Advanced Computer literacy with emphasis on expert level use of Excel.
• Competence to build and effectively manage interpersonal relationships at all levels of the company.
• Stress management, optimum prioritization, and time management skills.
• Advanced analytical and statistical skills.

 

BEHAVIOURAL QUALITIES:

• Exhibit maturity and initiative with strong sense of teamwork.
• Ethical and principled.
• Proven integrity – honest and truthful.
• Proactive and open-minded.
• Willing to keep learning.
• A person of good judgment, tact, and diplomacy

Reporting To

Governance, Risk and Compliance Manager